CFIUS Unwinds $2 Million Huawei Deal
In recent weeks, Huawei Technologies Ltd. (“Huawei”), a Chinese telecommunications company, agreed to unwind its May 2010 acquisition of certain assets from 3Leaf Systems (“3Leaf”), an insolvent California-based computer technology company, following opposition to the deal by the Committee on Foreign Investment in the United States (“CFIUS”). This development demonstrates that concerns related to national security can be raised even after a transaction is closed, regardless of its size or whether such a transaction is voluntarily submitted for review.
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